Metric’s $10m boost to drive US growth
Metric Gaming has sealed a $10m (€8.5m/£7.6m) funding round that will “accelerate” its ambition of becoming a leading tech provider in its home US market.
The sportsbook platform and data services provider, which was founded in Las Vegas, said its Series A Funding Round was led by RDA Ventures LLC, with additional funds coming from existing investors. As part of its investment, RDA Ventures will join Metric Gaming’s board of directors.
With plans already under way for a recruitment drive at its Las Vegas base, the funds will be used to help establish Metric Gaming as a leading services provider in the fledgling US market.
Martin de Knijff (pictured), Metric Gaming CEO, said: “This investment will accelerate Metric Gaming's plans to capitalise on the substantial market opportunities arising as states across the U.S. continue to legalize sports betting.
“Metric's B2B value proposition – a turnkey, mobile-optimised solution that includes the transaction platform, front-end, trading, operations, risk management, product and unique content – is backed by pedigree and expertise built on both sides of the Atlantic, and will enable operators to quickly and efficiently capture market share.”
Since the repeal of PASPA in May, Metric has begun an internal restructure with industry veteran Jim Supple becoming global managing director and Keith Hayes taking over his COO role, with a US commercial function being defined in addition to the already established UK and European commercial function.
The company in May announced a partnership with Nektan that will see the pair provide a fully integrated complete race and sports book offering to the US market.
De Knijff told iGamingBusiness.com that the company’s commercial arm has been busy progressing other partnerships since the US market was effectively opened by the repeal of PASPA.
He said: “The emerging sports betting market in the US has presented Metric Gaming with numerous opportunities to explore and progress.
“It's a little too early to announce anything specific but discussions are well underway with some leading names within the industry.”